Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-96

Good point you raised. If the technology is commercialised it will happen first in China (the biggest market). If the Chinese keep to the deal, we see some positive sustaining cashflow and paying down Fred's loans.

I'm speculating then, that Fred turns to the likes of Samsung / Sony / Apple, points to EM and says if you want this product and want to play catch up and be the sole world wide distributor (outside China), then who is going to be the highest bidder.

I can't see that Fred has the energy, inclination and time to see this through to a commonly available product in the western world marketplace.